The EU and US are closing in on a trade deal that would impose 15 per cent tariffs on European imports, similar to the agreement Donald Trump struck with Japan this week.
Brussels could agree to the so-called reciprocal levies to avoid the US president’s threat to raise them to 30 per cent from August 1, three people familiar with the situation told the Financial Times.
“The Japan agreement made clear the terms of the shakedown,” said one EU diplomat. “Most member states are holding their noses and could take this deal.”
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